Case Study On Financing Of Small,medium And Micro Enterprises Served By Online Lending Platforms

Small,medium and micro enterprises are the main force driving the development of China's national economy,involving all sectors of the national economy.For more than 70 years,China's small,medium and micro enterprises have shown vigorous vitality.Their survival and development have an overwhelming advantages in stabilizing the economy,increasing employment,and promoting innovation in China.According to statistics from the Ministry of Industry and Information Technology,as of the end of 2018,the number of small,medium and micro enterprises in China has exceeded 30 million,and the number of individual businesses has exceeded 70 million,contributing more than 50%of the national tax revenue,more than 60%of GDP,more than 70%of technological innovation achievements and more than 80%of employment positions.There is no doubt that small,medium and micro enterprises are gradually developing into a leading force that promotes the prosperity of our economy and society.With the implementation of a series of policies supporting the development of small,medium and micro enterprises in China,the development of small,medium and micro enterprises will have more opportunities,stronger vitality and greater space.However,due to their own small scale,backward management level,poor integrity awareness,weak anti-risk capability and traditional financial institutions "poor loans",most small,medium and micro enterprises are facing severe financing difficulties.In recent years,under the background of rapid development of Internet finance,a new type of Internet finance model,network lending,has emerged at the historic moment.Its essence is an information intermediary institution,which promotes the circulation of funds between the financing parties.Online lending platforms use powerful Internet technology to speed up the ability of information collection,integration,screening and processing,improve financing efficiency and effectively reduce the time cost and transaction costs in the financing process of small,medium and micro enterprises.Online lending platforms provide a new direction for the financing channels,and to some extent help small,medium and micro enterprises to get out of the financing dilemma,but it also exposes many problems.The development of online lending platforms is uneven,with operational risks,technical risks,and money laundering risks.In addition,China's inadequate credit reporting system and inadequate laws and regulations have led to frequent problem platforms and severely disrupted the order of financial markets.How to effectively prevent risks and provide financing for small,medium and micro enterprises under the premise of legal compliance in the online lending platform is a very worthwhile research topic,which is of great benefit to the online lending industry and small,medium and micro enterprises.In view of this,based on transaction cost theory,financial restraint theory,long-tail theory,and information asymmetry theory,this thesis introduces the case of B online lending company,and analyzes the financing model and development status of online lending platforms,the financing dilemma and causes of small,medium and micro enterprises,the advantages and problems of online lending platforms' financing for small,medium and micro enterprises,and puts forward corresponding policy recommendations to promote the healthy development of online lending platforms and small,medium and micro enterprises.